Major Cardano metric drops to 3-month low, XRP nears end of lawsuit with SEC – details

Cardano investors and stakeholders have reasons to be nervous as the network is seeing a 3-month low in active addresses, according to recent on-chain data. Meanwhile, the XRP community believes a settlement is imminent in the XRP vs SEC case. Investors can protect themselves by shifting their focus to assets that provide better security such as ETFSwap (ETFS)

Take advantage of the real world assets tokenization revolution with ETFSwap

ETFSwap is a decentralized platform that provides unique trading and investment opportunities in crypto and exchange-traded funds. On ETFSwap, users can swap crypto with listed ETFs. The platform offers greater investment security by providing a means to invest in various institutional tokenized ETFs including crypto spot and futures ETFs.

ETFSwap (ETFS) allows trading and investing in tokenized assets backed by real-world securities purchased from traditional financial markets by implementing blockchain technology. This is possible because ETFs works with MiCa-compliant regulated investment banks to deal in securities and crypto trading.

ETSwap’s infrastructure is founded on blockchain technology, which enables users to enjoy robust security, decentralized ETF trading, transparency, and anonymity. Thanks to ETFSwap’s market-making expertise, users also enjoy up to 10x leverage on all trades, 50-60x leverage on perpetual futures and options trading, and optimal liquidity. 

The icing on the cake with the ETFSwap platform is its user-friendliness. It is simply the best out there. Users can easily navigate the different screens, features, and windows. Be it checking one’s portfolio, staking ETFS, trading perps, etc, all operations on the platform can be carried out breezily.

Users and investors can invest in ETFSwap’s native token, ETFS, to earn potential rewards and profits. Investors and traders are currently taking advantage of the 40% bonus promo to acquire more tokens to maximize returns and are looking to invest some of their profit into tokenized ETFs. The tokens are currently valued at a discounted price of $0.01831

Cardano (ADA) suffers lowest dip in active addresses in 3 months

The latest on-chain data reveal that Cardano (ADA) is seeing a 3-month low in active addresses. The metric measures the amount of unique on-chain interactions performed on the network, and it does not look good for Cardano. The figure currently stands at 20,400, the lowest in 90 days. 

This drop in network activity is bound to affect ADA’s price performance as recent numbers show a corresponding decline in price. Cardano price has seen a 14.25% decrease over the last month and a further 0.51% decline in the last 24 hours. The price currently sits at $0.41, according to CoinMarketCap data

Another arrow in Cardano’s armor is the current market sentiment. The Weighted Market Sentiment measures the overall market sentiment toward a crypto asset. The current market sentiment toward Cardano (ADA) is overwhelmingly low and hints that Cardano’s bearish woes may persist.

join the etfswap presale

XRP nears end of lawsuit with SEC

A recent filing by the SEC in response to XRP’s supplementary authority letter in their ongoing lawsuit has sparked speculation that a settlement decision will arrive soon. The supplementary authority letter submitted by XRP contains their arguments against the SEC’s earlier demand for $2B in remedies.

In the letter, XRP cites a similar lawsuit that ended in a settlement and laments the seeming huge disparity in settlement terms between both cases. They argued that the $420M civil penalty imposed on TerraForm Labs constituted only 1.27% of TerraForm Labs’s gross sales of $33B.

XRP laments that this price is significantly lower than what the SEC is demanding in its case and adds that, unlike TerraForm Labs, there is no evidence of fraud in XRP’s case. XRP’s Chief Legal Officer Stuart Alderoty had also pointed out earlier that XRP’s alleged unregistered securities trade did not harm investors. 

Conclusion

The future looks bleak for Cardano investors and traders as the combined effects of an all-time active address decline and unfavorable technical indicators bear negatively on ADA price action. In other news, some XRP investors may be cashing out soon as the community believes a settlement is on the horizon in its ongoing lawsuit regarding the sale of XRP. 

For more information about the ETFS presale:-

Visit ETFSwap Presale

Advertisement

Join The ETFSwap Community

Disclaimer: This article is sponsored content and is not financial advice. CryptoNewsZ does not endorse or guarantee the accuracy of the content. Readers should verify information independently and exercise caution when dealing with any mentioned company. Investing in cryptocurrencies is risky, and seeking advice from a qualified professional is recommended.

Mark Peterson

Mark Peterson has been following the crypto market for the past seven years. As a crypto news journalist, he has recently joined our team. He regularly delivers the most recent happenings of the crypto space. He enjoys writing poems and exploring various crypto trading platforms in his spare time.

Related Articles

Back to top button